Tag Archives: Australia

IMF Bentham Expands to Singapore

IMF Bentham SingaporeAustralian litigation funder IMF Bentham will be opening an office in Singapore.

The move comes after a change in its laws. The country now allows litigation funding in international arbitrations taking place in Singapore. Therefore Bentham has been seeing an increased demand across Asia.

That’s why Bentham hired Tom Glasgow to head its new office. Glasgow is a former senior associate at Allen & Overy’s international arbitration group in Hong Kong and Singapore.

As similar laws are being considered in Hong Kong, Glasgow sees potential for long-term growth in both markets.

Read full article at Australasianlawyer.com.au

Summarized by Meghan Hallinan

Australia’s Money Max Decision Allows Litigation Funders to Collect Fees from all Class Members

In Money Max Int Pty Ltd v QBE [2016] FCAFC 148, Australia’s Full Federal Court permitted a “common fund”, which allows a litigation funder to collect a “reasonable funding commission” (the exact amount of which would determined at a later time) from all members of a particular class, including members who did not sign up to a funding agreement.

The Court also stated that no class member be worse off under the order than had the order not been made, and that all class members be given notice of the order and an opportunity to opt out. In its order, the Court sought greater access to justice.  Although uncertainties remain, this decision will most likely make litigation funding more enticing for litigation funders in Australia.

View full post at Mondaq

Summarized by Francis Michigan.